Trading support and resistance

[Phoenix01]

I mainly trade support and resistance levels on the ftse 100. I try to find strong support and resistance levels which have held/tested and rebounded/tops and bottoms over several days. Sometimes the line will be important for a week or two.

Is what i am doing betting, looking for strong support and resistances lines over time or because i day trade should i just use for strong lines over the last 2-3 days.

Would be helpful to hear from some fellow, s&r traders on the ftse 100 futures.

Omar

 

[coopster]

do what works i say. It doesn't matter what anyone else is doing.

Maybe make an excel table to document what happened at a S/R line and how old it was when it was used. Then after a few trades/backtests, you'll get an idea of what historical time period seems to be more reliable to draw the lines from.